Title:What Should Central Banks do about Real Estate Prices?
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Author(s):ALLEN, Franklin; CARLETTI, ElenaDate:2011-01-01Type:Working PaperSeries/Number:Wharton Financial Institutions Center; 2011/29Abstract:Many central banks use inflation targeting as the basis for their monetary policy. The
underlying notion of this approach is that there are no long term benefits in terms of reduced
unemployment from having inflation. ...